China Display Optoelectronics Technology : CHANGE OF EXECUTIVE DIRECTOR

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China Display Optoelectronics Technology Holdings Limited 華顯光電技術控股有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 334)

CHANGE OF EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors", each a "Director") of China Display Optoelectronics Technology Holdings Limited (the "Company" and together with its subsidiaries, the "Group") announces that:

• (1) Mr. ZHAO Jun has tendered his resignation as an executive Director with effect from 4

  March 2021 due to his other personal commitments which require more of his dedication and time commitment; and

• (2) Mr. ZHANG Feng has been appointed as an executive Director with effect from 4 March 2021.

RESIGNATION OF EXECUTIVE DIRECTOR

Mr. ZHAO Jun has tendered his resignation as an executive Director with effect from 4 March 2021 due to his other personal commitments which require more of his dedication and time commitment.

Mr. ZHAO Jun has confirmed that he has no claim against the Company whatsoever whether in respect of fees, remuneration, severance payments, pension, expenses or compensation or otherwise in respect of his resignation as an executive Director and there is no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited ("Stock Exchange").

The Board would like to express its sincere appreciation to Mr. ZHAO Jun for his valuable contribution to the Company during the tenure of his service.

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board is pleased to announce that with effect from 4 March 2021, Mr. ZHANG Feng has been appointed as an executive Director.

Mr. ZHANG Feng, aged 42, graduated from Beijing University of Chemical Technology with a bachelor degree in material science & engineering and a master's degree in material science. He obtained an executive master of business administration degree from China Europe International Business School in 2019. From July 2003 to April 2010, Mr. ZHANG Feng successively held various engineering or technology-related positions in Shanghai Guangdian NEC Liquid-Crystal Display Limited* （上海廣電 NEC 液晶顯示器有限公司） and Shanghai Avic Optoelectronics Co., Ltd.* （上海中航光電子有限公司）respectively. Mr. ZHANG Feng joined TCL China Star Optoelectronics Technology Co., Ltd. ("TCL CSOT", formerly known as Shenzhen China Star Optoelectronics Technology Co., Ltd.) in April 2010. He has been a vice general manager of small and medium-sized business group of TCL CSOT and the senior vice president of TCL CSOT, and the general manager and legal representative of Wuhan China Display Optoelectronics Technology Co., Ltd.* （武漢華顯光電技術有限公司） (a subsidiary of the Company) and Wuhan China Star Optoelectronics Technology Co., Ltd. respectively since July 2020. Mr. ZHANG Feng has been appointed as the chairman and legal representative of China Display Optoelectronics Technology (Huizhou) Co., Ltd.* （華顯光電 技術（惠州）有限公司） (a subsidiary of the Company) since September 2020.

Save as disclosed above, as at the date of this announcement, Mr. ZHANG Feng (i) does not hold any other positions with the Company or any other members of the Group; (ii) has not held any other directorship at present or in the last three years in other public companies the securities of which are listed on any securities market in Hong Kong or overseas and does not have other major appointment and professional qualification; (iii) has no interest in the shares of the Company within the meaning of Part XV of Securities and Futures Ordinance (Cap. 571 of the laws of Hong Kong); and (iv) does not have any relationships with any other Directors, senior management or any substantial or controlling shareholders of the Company.

Mr. ZHANG Feng has entered into a director's service agreement with the Company for a term of three years commencing on 4 March 2021, which will be automatically renewed for a further term of one year each unless terminated by at least three months' written notice served by either party to the other party, subject to election at general meeting and retirement by rotation and re-election at annual general meetings of the Company in accordance with the bye-laws of the Company or the Rules Governing the Listing of Securities on the Stock Exchange ("Listing Rules"). Pursuant to the terms of the service agreement, Mr. ZHANG Feng is not entitled to any director's fee, subject to annual review by the remuneration committee of the Company, but he is entitled to receive discretionary bonus, which is determined with reference to his experience, duties and responsibilities within the Company as well as the Company's performance and the prevailing market conditions.

Save as disclosed above, as at the date of this announcement, there is no other information required to be disclosed nor is/was Mr. ZHANG Feng involved in any of the matters required to be disclosed pursuant to any of the requirements of the provisions under paragraphs 13.51(2)(h) to 13.51(2)(w) of the Listing Rules. The Board is not aware of any other matters in relation to his appointment which need to be brought to the attention of the shareholders of the Company.

The Board would like to express a warm welcome to Mr. ZHANG Feng for joining the Board.

On behalf of the Board

LIAO Qian

Chairman

Hong Kong, 4 March 2021

The English translation of Chinese names or words in this announcement, where indicated by "*", are included for information purpose only, and should not be regarded as the official English translation of such Chinese names or words.

As at the date of this announcement, the Board comprises Mr. Liao Qian as Chairman and non-executive Director; Mr. OUYANG Hongping, Mr. WEN Xianzhen and Mr. ZHANG Feng as executive Directors; and Ms. HSU Wai Man Helen, Mr. XU Yan and Mr. LI Yang as independent non-executive Directors.